BAKU, Azerbaijan, April 1. International Monetary Fund (IMF) has agreed on providing Georgia with $289 million under a Stand-by Agreement within a new three-year economic program, Trend reports via the press service of the Fund.
The program aims to maintain and further entrench macroeconomic stability in the context of back-to-back shocks from the pandemic and the hostilities in Ukraine, strengthen medium-term growth, and enhance economic resilience, IMF said.
Meanwhile, the talks between the IMF team led by James John and Georgia’s authorities on the agreement have been held from November 2021 through March 2022.
The IMF’s statement, however, does not highlight the cooperation priorities of a new program, and the current agreement still needs the approval, which will likely happen in May 2022.
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